One of the reasons memecoins gained so much popularity within crypto is because people got sick and tired of being dumped on by VCs/insiders
Recently there’s been a lot of attention/capital flocking towards fresh utility launches, but apart from a few (like XPL/ASTER), in my opinion, the vast majority of them will inevitably go down only as emissions/unlocks take over
Memes on the whole are pure assets. 100% circulating supply, no VC unlocks, no emissions nuking the chart. As they’re free floating, they get nuked when demand dries up, which has happened over the last few months. However, they can bounce back just as quickly when supply dries up
When enough people get burnt/dumped on with these fresh launches, I believe we’ll see a return to memes… and I believe this happens soon
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